*By Kavitha Shastry*
Amazon briefly joined the $1 trillion club Tuesday, becoming the second U.S. company to reach the milestone market cap in as many months.
The e-commerce giant saw shares rise to $2,050.50 just before noon, putting its valuation just about $100 billion behind Apple, which crossed the line a little over a month ago.
That may sound like a huge sum separating the two, but Amazon could actually surpass the iPhone maker in short order ー the stock's 74 percent gain this year is more than double that of Apple, and if shares of both companies keep the same pace, Amazon could close the gap by the end of the year.
Still, plenty of catalysts could affect the horse race ー investors will be closely watching Apple's big iPhone reveal next Wednesday, and the all-important holiday shopping season will be key for Amazon. Then, of course, there's Microsoft and Google parent Alphabet, both of which are gaining ground, with market caps of about $850 billion each.
But while Amazon's and Apple's runs created plenty of fanfare, they're not the first companies to hit the $1 trillion level. China Petroleum did so on the Hong Kong exchange back in 2007, but those shares have since plummeted, giving the one-time oil giant a current market cap of around $121 billion.
Members of the Screen Actors Guild - American Federation of Television and Radio Artists union officially went on strike Friday after negotiations broke down with the Alliance of Motion Picture and Television Producers. Cheddar News explains.
With so much information floating around about student loans, and an uncertain federal plan to forgive a significant amount of debt, Cheddar News brought in an expert to help you sort through what's going on.
The latest season of the Real Housewives of New York City premiered this week, and Cheddar's own Michelle Castillo got a chance to catch up with the ladies and get some of their tips on how to stretch your dollar in the Big Apple.
Now if you live in a major city and feel like no matter how much money you make it's never enough, you're not alone. Jacqueline Schadeck of New Perspectives Financial is here to show us how you can live within your means and still live comfortably.
China's fast fashion retailer Shein is facing a lawsuit that claims the clothing maker's copyright infringement is so aggressive, it amounts to racketeering.
